The rate of unemployment in Cyprus increased to 17.4% in March, that is 78.000 unemployed, from 16.8% in February, Eurostat said on Friday. The statistical office of the EU said that the euro area (EA18) seasonally-adjusted unemployment rate was 11.8% in March 2014, stable since December 2013, but down from 12.0% in March 2013 and
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Emirates SkyCargo, the freight division of Emirates, has increased its cargo capacity to Tunis and Abidjan with the introduction of a weekly freighter service. The new freighter flight supplements the existing belly hold cargo capacity provided on Emirates’ daily passenger services to the two cities. Emirates SkyCargo is using one of its Boeing 777 Freighter
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Pipe laying vessel “Castorone” anchored Thursday morning at Limassol harbor. The 374 meters long ship is the biggest vessel that has ever docked at Cyprus` southern coastal city and belongs to SAIPEM, a subsidiary of energy company E&P ENI. Cyprus is the first European country “Castorone” is docking for refueling purposes, while preparing to undertake
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* BOCY, HB, Coop face harsher scenarios * EBA sees ‘modest growth’ in 2016 – property, stock price to continue falling Cyprus banks will have to face tougher tests to see if they can withstand pressures from the economy, such as coping with a surge in unemployment and recession, as well as a fall of
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The European Investment Bank Group (EIB) has signed a memorandum of understanding with the Greek government concerning the contribution of the EIB to the “Institution for Growth in Greece” (IfG). The IfG aims to promote growth, innovation and employment through the provision of short and long-term debt and equity capital to small and medium-sized enterprises
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. What a ride Cyprus has had the past ten years. It started with a high-speed rollercoaster trying to reach a simultaneous solution of the Cyprus problem and EU accession at the same time. The first failed, the second limped. “No matter”, we said, as we picked up the pieces and moved on, believing every
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. By Oren Laurent President, Banc De Binary Obama and his European counterparts will be hoping that sanctions against Russia have a political payoff and dissuade the country from invading Ukraine. However, sanctions don’t come cheap. Don’t overlook that an economic price is often paid on both sides. Russia annexed the Crimean peninsula in March
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. Marcuard's Market update by GaveKal Dragonomics When Raghuram Rajan took over the reins of India’s central bank last September he faced a weakening economy and persistent capital outflow. His contrarian solution was to jack up interest rates and propose an accelerated internationalisation of the long cosseted rupee. This programme was not exactly popular, but
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Bank of Cyprus has released some €900mln in fixed term 9-month deposits that matured on Wednesday, convinced that its liquidity position would not be harmed by outflows, especially after the European Central Bank published data showing a marginal increase in local bank deposits for the first time since November. The deposits were part of the
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The Cyprus Ministry of Finance announced Wednesday that it issued a six year international bond for a nominal value of €100 mln at a coupon rate of 6.50%. The said bonds, issued via private placement, will be listed at the London Stock Exchange and be settled via Euroclear. This access to the Eurobond market is
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